What r/fatFIRE can learn from the book, Psychology of Money
My favorite author, Morgan Housel, released his new book, The Psychology of Money, last week. In the book, Housel discussed many interesting psychological phenomenon, through the lens of finance. As I flipped through the pages, I started to realize so much of what's happening in fatFIRE are examples of what's discussed in the book. No One's Crazy The book begins with how your personal experiences with money make up maybe 0.000000001% of what's happened in the world, but maybe 80% of how you think the world works. For example, if you were born in 1970, the S&P 500 increased almost 10-fold, adjusted for inflation, during your teens and 20s. That's an amazing return. If you were born in 1950, the market went literally nowhere in your teens and 20s adjusted for inflation. Two groups of people, separated by chance of their birth year, go through life with a completely different view on how the stock market works. Takeaways forfatFIRE: When you read other posts and comments about what stocks to buy, what startups to join, what's the economy going to be like, what's the best asset allocation, etc., remember that is just a single person's point of view. That person may be from a different generation, earns different incomes, upholds different values, keeps different jobs, and has different degrees of luck. And remember, don't be mean to others. A view about money that one group of people thinks is outrageous can make perfect sense to another. Luck & Risk The next chapter discusses the big role luck and risk plays in someone's life. Luck and risk are two sides of the same coin. Examples from the book: Countless fortunes (and mistakes) owe their outcomes to leverage. The best (and worst) managers drive their employees as hard as they can. "The customers are always right" and "customers don't know what they want" are both accepted business wisdom. The line between "inspiringly bold" and "foolishly reckless" can be a millimeter thick and only visible with hindsight. Risk and luck are doppelgängers. Takeaways forfatFIRE: Be careful who you praise and admire. That commenter who joined a unicorn at Series A may look like a genius on the outside, but they may just be lucky and cannot repeat it again. Be careful who you look down upon and wish to avoid becoming. That poster who joined WeWork may look like a fool, but they made the best decision based on the information they had at a time. They took a risk and got unlucky. Therefore, focus less on specific individuals and case studies and more on broad patterns. Furthermore, when things are going extremely well, realize it's not as good as you think -- like the stock market right now. On the other hand, we should forgive ourselves and leave room for understanding when judging failures -- like the stock market in March. Never Enough The hardest financial skill is getting the goalpost to stop moving. It gets dangerous when the taste of having more -- more money, more power, more prestige -- increases ambition faster than satisfaction. Social comparison is the problem here. A rookie baseball players who earns $500k a year envies Mike Trout who has a 12-year, $430 million contract envies a hedge fund manager who makes $340 million a year envies Warren Buffett who had a $3.5 billion increase in fortune in 2018. There are many things never worth risking, no matter the potential gain. Reputation is invaluable. Freedom and independence are invaluable. Friends and family are invaluable. Being loved by those who you want to love you is invaluable. Happiness is invaluable. And your best shot at keeping these things is knowing when it's time to stop taking risks that might harm them. Knowing when you have enough. Takeaways forfatFIRE: When you make a big gain, it's totally okay to take profit, as long as you keep your ambition down and acknowledge the possibility that it may go higher. If that happens, no need to play the would've should've could've game, because it very well might've gone the other way. When you see someone who got 20x return on Shopify or bet big into Ethereum in 2016, remember they may envy the pre-IPO employees at Shopify or the genius who held Bitcoin since 2010. At the end of the day, do not risk more than what's comfortable in your life for the sake of making huge amount of money, because even if you do make it, you may not find it worth it. Tails, You Win Skipping a few chapters to talk about the prominence of tail events. At the Berkshire Hathaway shareholder meeting in 2013 Warren Buffet said he's owned 400 to 500 stocks during his life and made most of his money on 10 of them. Charlie Munger followed up: "If you remove just a few of Berkshire's top investments, its long-term track record is pretty average." In 2018, Amazon drove 6% of the S&P 500's returns. And Amazon's growth is almost entirely due to Prime and Amazon Web Services, which itself are tail events in a company that has experimented with hundreds of products, from the Fire Phone to travel agencies. Apple was responsible for almost 7% of the index's returns in 2018. And it is driven overwhelmingly by the iPhone, which in the world of tech products is as tail--y as tails get. And who's working at these companies? Google's hiring acceptance rate if 0.2%. Facebook's is 0.1%. Apple's is about 2%. So the people working on these tail projects that drive tail returns have tail careers. Takeaways forfatFIRE: When we pay special attention to a role model's successes we overlook that their gains came from a small percent of their actions. That makes our own failures, losses, and setbacks feel like we're doing something wrong. When you accept that tails drive everything is business, investing and finance you will realize that it's normal for lots of things to go wrong, break, fail and fall. If you are a good stock picker you'll be right maybe half the time. If you're a good business leader maybe half of your product and strategy ideas will work. If you're a good investor most years will be just OK, and plenty will be bad. If you're a good worker you'll find the right company in the right field after several attempts and trials. And that's if you're good. Freedom The highest form of wealth is the ability to wake up every morning and say "I can do whatever I want today." The ability to do what you want, when you want, with who you want, for as long as you want, is priceless. It is the highest dividend money pays. Research has shown having a strong sense of controlling one's life is a more dependable predictor of positive feelings of wellbeing than any of the objective conditions of life we have considered. People like to feel like they're in control -- in the drivers' seat. When we try to get them to do something, they feel disempowered. Rather than feeling like they made the choice, they feel like we made it for them. So they say no or do something else, even when they might have originally been happy to go along. Takeaways forfatFIRE: Most of you probably are working thought-based and decision job, your tool is your head, which never leaves you. You might be thinking about your project during your commute, as you're making dinner, while you put your kids to sleep, and when you wake up stressed at three in the morning. You might be on the clock for fewer hours than you would in 1050. But it feels like you're working 24/7. If this feels like you, and you do not like it, it is totally fine to switch to a job that pays less but gives you more freedom and independence, because freedom and independence are what FatFire is all about. --- I'm only half way into the book, but I can tell this will be one of the best finance book of 2020. If you guys find this useful, happy to come back next week with more insights once I've gotten to the end. I like talking about these things on Twitter too. Edit: here's part 2 and here's a Twitter thread of the best snippets
What r/investing can learn from the book, Psychology of Money
My favorite author, Morgan Housel, released his new book, The Psychology of Money, last week. In the book, Housel discussed many interesting psychological phenomenon, through the lens of finance. As I flipped through the pages, I started to realize so much of what's happening in investing are examples of what's discussed in the book. No One's Crazy The book begins with how your personal experiences with money make up maybe 0.000000001% of what's happened in the world, but maybe 80% of how you think the world works. For example, if you were born in 1970, the S&P 500 increased almost 10-fold, adjusted for inflation, during your teens and 20s. That's an amazing return. If you were born in 1950, the market went literally nowhere in your teens and 20s adjusted for inflation. Two groups of people, separated by chance of their birth year, go through life with a completely different view on how the stock market works. Takeaways forinvesting: When you read other posts and comments about what stocks to buy, when to sell, what's likely to happen next, what's the best asset allocation, etc., remember that is just a single person's point of view. That person may be from a different generation, earns different incomes, upholds different values, keeps different jobs, and has different degrees of luck. And remember, don't be mean to others. A view about money that one group of people thinks is outrageous can make perfect sense to another. Luck & Risk The next chapter discusses the big role luck and risk plays in someone's life. Luck and risk are two sides of the same coin. Examples from the book: Countless fortunes (and mistakes) owe their outcomes to leverage. The best (and worst) managers drive their employees as hard as they can. "The customers are always right" and "customers don't know what they want" are both accepted business wisdom. The line between "inspiringly bold" and "foolishly reckless" can be a millimeter thick and only visible with hindsight. Risk and luck are doppelgängers. Takeaways forinvesting: Be careful who you praise and admire. That commenter who bought $SHOP at $30 may look like a genius on the outside, but they may just be lucky and cannot repeat it again. Be careful who you look down upon and wish to avoid becoming. That poster who put a bull argument for Luckin Coffee may look like a fool, but they made the best decision based on the information they had at a time. They took a risk and got unlucky. Therefore, focus less on specific individuals and case studies and more on broad patterns. Furthermore, when things are going extremely well, realize it's not as good as you think -- like the stock market right now. On the other hand, we should forgive ourselves and leave room for understanding when judging failures -- like the stock market in March. Never Enough The hardest financial skill is getting the goalpost to stop moving. It gets dangerous when the taste of having more -- more money, more power, more prestige -- increases ambition faster than satisfaction. Social comparison is the problem here. A rookie baseball players who earns $500k a year envies Mike Trout who has a 12-year, $430 million contract envies a hedge fund manager who makes $340 million a year envies Warren Buffett who had a $3.5 billion increase in fortune in 2018. There are many things never worth risking, no matter the potential gain. Reputation is invaluable. Freedom and independence are invaluable. Friends and family are invaluable. Being loved by those who you want to love you is invaluable. Happiness is invaluable. And your best shot at keeping these things is knowing when it's time to stop taking risks that might harm them. Knowing when you have enough. Takeaways forinvesting: When you make a big gain, it's totally okay to take profit, as long as you keep your ambition down and acknowledge the possibility that it may go higher. If that happens, no need to play the would've should've could've game, because it very well might've gone the other way. When you see someone who got 20x return on Amazon or bet big into Ethereum in 2016, remember they may envy the pre-IPO employees at Amazon or the genius who held Bitcoin since 2010. At the end of the day, do not risk more than what's comfortable in your life for the sake of making huge amount of money, because even if you do make it, you may not find it worth it. Tails, You Win Skipping a few chapters to talk about the prominence of tail events. At the Berkshire Hathaway shareholder meeting in 2013 Warren Buffet said he's owned 400 to 500 stocks during his life and made most of his money on 10 of them. Charlie Munger followed up: "If you remove just a few of Berkshire's top investments, its long-term track record is pretty average." In 2018, Amazon drove 6% of the S&P 500's returns. And Amazon's growth is almost entirely due to Prime and Amazon Web Services, which itself are tail events in a company that has experimented with hundreds of products, from the Fire Phone to travel agencies. Apple was responsible for almost 7% of the index's returns in 2018. And it is driven overwhelmingly by the iPhone, which in the world of tech products is as tail--y as tails get. And who's working at these companies? Google's hiring acceptance rate if 0.2%. Facebook's is 0.1%. Apple's is about 2%. So the people working on these tail projects that drive tail returns have tail careers. Takeaways forinvesting: When we pay special attention to a role model's successes we overlook that their gains came from a small percent of their actions. That makes our own failures, losses, and setbacks feel like we're doing something wrong. When you accept that tails drive everything is business, investing and finance you will realize that it's normal for lots of things to go wrong, break, fail and fall. If you are a good stock picker you'll be right maybe half the time. If you're a good business leader maybe half of your product and strategy ideas will work. If you're a good investor most years will be just OK, and plenty will be bad. If you're a good worker you'll find the right company in the right field after several attempts and trials. And that's if you're good. Freedom The highest form of wealth is the ability to wake up every morning and say "I can do whatever I want today." The ability to do what you want, when you want, with who you want, for as long as you want, is priceless. It is the highest dividend money pays. Research has shown having a strong sense of controlling one's life is a more dependable predictor of positive feelings of wellbeing than any of the objective conditions of life we have considered. People like to feel like they're in control -- in the drivers' seat. When we try to get them to do something, they feel disempowered. Rather than feeling like they made the choice, they feel like we made it for them. So they say no or do something else, even when they might have originally been happy to go along. Takeaways forinvesting: If your job is a thought-based and decision job, your tool is your head, which never leaves you. You might be thinking about your project during your commute, as you're making dinner, while you put your kids to sleep, and when you wake up stressed at three in the morning. You might be on the clock for fewer hours than you would in 1050. But it feels like you're working 24/7. If this feels like you, and you do not like it, it is totally fine to switch to a job that pays less but gives you more freedom and independence, because freedom and independence are ultimate form of wealth. --- I'm only half way into the book, but I can tell this will be one of the best finance book of 2020. If you guys find this useful, happy to come back next week with more insights once I've gotten to the end.
436 BTC were traded using LocalBitcoin last week,trading Bs. /BTC and BTC/Bs. (Bolivares, Venezuelan "official" currency).These 446 BTC were 1,610,000,00,000 Bs.(ATH).One BTC is around 4,000,000,000 Bs. Monthly minimum wage is around 2.3 USD.Inflation from March 2013 to July 2020 was 18,427,384,550%
Hi guys, as you might know I'm a Venezuelan "living" here. August trade using LocalBitcoin closed under 2,000 BTC. Venezuelan Central Bank posted today the inflation rate.
From January 2020 to July 2020 it was 492%.
From July 2019 to July 2020 it was 2,359%.
From March 2013 to July 2020 it was 18,427,384,550%
I bought groceries with the BAT that I earned while browsing the web. (No manual conversion)
I can't believe what I just typed lol. The future is now. First off, I'd like to state that I didn't get paid to say this. I got selected as part of a beta program for Upholds debit card and thought it was genuinely cool given the circumstances. The way that it works is that you download a seperate app to that of the officail Uphold app. If you're familiar with uphold, you'll know that they create these digital cards for your assets/claimed social profiles. You then go into the app, select the asset that you want the debit card to debit when swiped, and that's it. Whatever asset you selected before swiping, it will exchange that crypto at market price at the time, and convert to dollars. Or if you loaded your USD wallet on uphold with actual USD, then you can transact directly in USD. So ya, as the title states, I bought tonights dinner with BAT that i've earned while browsing the web. No need to manually convert cryptos in USD or any of that hoopla. Just swipe and done. This makes it even harder to use any other internet browser. Edit: Wow, didn't know the post was going to garner this much attention! Top voted post in the sub and I got my first ever gild. :,) Glad to be apart of this community and witness this really cool project. I would have never thought that one day that i'd get paid for viewing ads while browsing the web. Let alone having a debit card that can purchase goods with digital assets other than USD. <3
How To End The Cryptocurrency Exchange "Wild West" Without Crippling Innovation
In case you haven't noticed the consultation paper, staff notice, and report on Quadriga, regulators are now clamping down on Canadian cryptocurrency exchanges. The OSC and other regulatory bodies are still interested in industry feedback. They have not put forward any official regulation yet. Below are some ideas/insights and a proposed framework.
Typical securities frameworks will cost Canadians millions of dollars (ie Sarbanes-Oxley estimated at $5m USD/yr per firm). Implementation costs of this proposal are significantly cheaper.
Canadians can maintain a diverse set of exchanges, multiple viable business models are still fully supported, and innovation is encouraged while keeping Canadians safe.
Many of you have limited time to read the full proposal, so here are the highlights:
Effective standards to prevent both internal and external theft. Exchange operators are trained and certified, and have a legal responsibility to users.
Regular Transparent Audits
Provides visibility to Canadians that their funds are fully backed on the exchange, while protecting privacy and sensitive platform information.
Establishment of basic insurance standards/strategy, to expand over time. Removing risk to exchange users of any hot wallet theft.
Background and Justifications
Cold Storage Custody/Management After reviewing close to 100 cases, all thefts tend to break down into more or less the same set of problems: • Funds stored online or in a smart contract, • Access controlled by one person or one system, • 51% attacks (rare), • Funds sent to the wrong address (also rare), or • Some combination of the above. For the first two cases, practical solutions exist and are widely implemented on exchanges already. Offline multi-signature solutions are already industry standard. No cases studied found an external theft or exit scam involving an offline multi-signature wallet implementation. Security can be further improved through minimum numbers of signatories, background checks, providing autonomy and legal protections to each signatory, establishing best practices, and a training/certification program. The last two transaction risks occur more rarely, and have never resulted in a loss affecting the actual users of the exchange. In all cases to date where operators made the mistake, they've been fully covered by the exchange platforms. • 51% attacks generally only occur on blockchains with less security. The most prominent cases have been Bitcoin Gold and Ethereum Classic. The simple solution is to enforce deposit limits and block delays such that a 51% attack is not cost-effective. • The risk of transactions to incorrect addresses can be eliminated by a simple test transaction policy on large transactions. By sending a small amount of funds prior to any large withdrawals/transfers as a standard practice, the accuracy of the wallet address can be validated. The proposal covers all loss cases and goes beyond, while avoiding significant additional costs, risks, and limitations which may be associated with other frameworks like SOC II. On The Subject of Third Party Custodians Many Canadian platforms are currently experimenting with third party custody. From the standpoint of the exchange operator, they can liberate themselves from some responsibility of custody, passing that off to someone else. For regulators, it puts crypto in similar categorization to oil, gold, and other commodities, with some common standards. Platform users would likely feel greater confidence if the custodian was a brand they recognized. If the custodian was knowledgeable and had a decent team that employed multi-sig, they could keep assets safe from internal theft. With the right protections in place, this could be a great solution for many exchanges, particularly those that lack the relevant experience or human resources for their own custody systems. However, this system is vulnerable to anyone able to impersonate the exchange operators. You may have a situation where different employees who don't know each other that well are interacting between different companies (both the custodian and all their customers which presumably isn't just one exchange). A case study of what can go wrong in this type of environment might be Bitpay, where the CEO was tricked out of 5000 bitcoins over 3 separate payments by a series of emails sent legitimately from a breached computer of another company CEO. It's also still vulnerable to the platform being compromised, as in the really large $70M Bitfinex hack, where the third party Bitgo held one key in a multi-sig wallet. The hacker simply authorized the withdrawal using the same credentials as Bitfinex (requesting Bitgo to sign multiple withdrawal transactions). This succeeded even with the use of multi-sig and two heavily security-focused companies, due to the lack of human oversight (basically, hot wallet). Of course, you can learn from these cases and improve the security, but so can hackers improve their deception and at the end of the day, both of these would have been stopped by the much simpler solution of a qualified team who knew each other and employed multi-sig with properly protected keys. It's pretty hard to beat a human being who knows the business and the typical customer behaviour (or even knows their customers personally) at spotting fraud, and the proposed multi-sig means any hacker has to get through the scrutiny of 3 (or more) separate people, all of whom would have proper training including historical case studies. There are strong arguments both for and against using use of third party custodians. The proposal sets mandatory minimum custody standards would apply regardless if the cold wallet signatories are exchange operators, independent custodians, or a mix of both. On The Subject Of Insurance ShakePay has taken the first steps into this new realm (congratulations). There is no question that crypto users could be better protected by the right insurance policies, and it certainly feels better to transact with insured platforms. The steps required to obtain insurance generally place attention in valuable security areas, and in this case included a review from CipherTrace. One of the key solutions in traditional finance comes from insurance from entities such as the CDIC. However, historically, there wasn't found any actual insurance payout to any cryptocurrency exchange, and there are notable cases where insurance has not paid. With Bitpay, for example, the insurance agent refused because the issue happened to the third party CEO's computer instead of anything to do with Bitpay itself. With the Youbit exchange in South Korea, their insurance claim was denied, and the exchange ultimately ended up instead going bankrupt with all user's funds lost. To quote Matt Johnson in the original Lloyd's article: “You can create an insurance policy that protects no one – you know there are so many caveats to the policy that it’s not super protective.” ShakePay's insurance was only reported to cover their cold storage, and “physical theft of the media where the private keys are held”. Physical theft has never, in the history of cryptocurrency exchange cases reviewed, been reported as the cause of loss. From the limited information of the article, ShakePay made it clear their funds are in the hands of a single US custodian, and at least part of their security strategy is to "decline to confirm the custodian’s name on the record". While this prevents scrutiny of the custodian, it's pretty silly to speculate that a reasonably competent hacking group couldn't determine who the custodian is. A far more common infiltration strategy historically would be social engineering, which has succeeded repeatedly. A hacker could trick their way into ShakePay's systems and request a fraudulent withdrawal, impersonate ShakePay and request the custodian to move funds, or socially engineer their way into the custodian to initiate the withdrawal of multiple accounts (a payout much larger than ShakePay) exploiting the standard procedures (for example, fraudulently initiating or override the wallet addresses of a real transfer). In each case, nothing was physically stolen and the loss is therefore not covered by insurance. In order for any insurance to be effective, clear policies have to be established about what needs to be covered. Anything short of that gives Canadians false confidence that they are protected when they aren't in any meaningful way. At this time, the third party insurance market does not appear to provide adequate options or coverage, and effort is necessary to standardize custody standards, which is a likely first step in ultimately setting up an insurance framework. A better solution compared to third party insurance providers might be for Canadian exchange operators to create their own collective insurance fund, or a specific federal organization similar to the CDIC. Such an organization would have a greater interest or obligation in paying out actual cases, and that would be it's purpose rather than maximizing it's own profit. This would be similar to the SAFU which Binance has launched, except it would cover multiple exchanges. There is little question whether the SAFU would pay out given a breach of Binance, and a similar argument could be made for a insurance fund managed by a collective of exchange operators or a government organization. While a third party insurance provider has the strong market incentive to provide the absolute minimum coverage and no market incentive to payout, an entity managed by exchange operators would have incentive to protect the reputation of exchange operators/the industry, and the government should have the interest of protecting Canadians. On The Subject of Fractional Reserve There is a long history of fractional reserve failures, from the first banks in ancient times, through the great depression (where hundreds of fractional reserve banks failed), right through to the 2008 banking collapse referenced in the first bitcoin block. The fractional reserve system allows banks to multiply the money supply far beyond the actual cash (or other assets) in existence, backed only by a system of debt obligations of others. Safely supporting a fractional reserve system is a topic of far greater complexity than can be addressed by a simple policy, and when it comes to cryptocurrency, there is presently no entity reasonably able to bail anyone out in the event of failure. Therefore, this framework is addressed around entities that aim to maintain 100% backing of funds. There may be some firms that desire but have failed to maintain 100% backing. In this case, there are multiple solutions, including outside investment, merging with other exchanges, or enforcing a gradual restoration plan. All of these solutions are typically far better than shutting down the exchange, and there are multiple cases where they've been used successfully in the past. Proof of Reserves/Transparency/Accountability Canadians need to have visibility into the backing on an ongoing basis. The best solution for crypto-assets is a Proof of Reserve. Such ideas go back all the way to 2013, before even Mt. Gox. However, no Canadian exchange has yet implemented such a system, and only a few international exchanges (CoinFloor in the UK being an example) have. Many firms like Kraken, BitBuy, and now ShakePay use the Proof of Reserve term to refer to lesser proofs which do not actually cryptographically prove the full backing of all user assets on the blockchain. In order for a Proof of Reserve to be effective, it must actually be a complete proof, and it needs to be understood by the public that is expected to use it. Many firms have expressed reservations about the level of transparency required in a complete Proof of Reserve (for example Kraken here). While a complete Proof of Reserves should be encouraged, and there are some solutions in the works (ie TxQuick), this is unlikely to be suitable universally for all exchange operators and users. Given the limitations, and that firms also manage fiat assets, a more traditional audit process makes more sense. Some Canadian exchanges (CoinSquare, CoinBerry) have already subjected themselves to annual audits. However, these results are not presently shared publicly, and there is no guarantee over the process including all user assets or the integrity and independence of the auditor. The auditor has been typically not known, and in some cases, the identity of the auditor is protected by a NDA. Only in one case (BitBuy) was an actual report generated and publicly shared. There has been no attempt made to validate that user accounts provided during these audits have been complete or accurate. A fraudulent fractional exchange, or one which had suffered a breach they were unwilling to publicly accept (see CoinBene), could easily maintain a second set of books for auditors or simply exclude key accounts to pass an individual audit. The proposed solution would see a reporting standard which includes at a minimum - percentage of backing for each asset relative to account balances and the nature of how those assets are stored, with ownership proven by the auditor. The auditor would also publicly provide a "hash list", which they independently generate from the accounts provided by the exchange. Every exchange user can then check their information against this public "hash list". A hash is a one-way form of encryption, which fully protects the private information, yet allows anyone who knows that information already to validate that it was included. Less experienced users can take advantage of public tools to calculate the hash from their information (provided by the exchange), and thus have certainty that the auditor received their full balance information. Easy instructions can be provided. Auditors should be impartial, their identities and process public, and they should be rotated so that the same auditor is never used twice in a row. Balancing the cost of auditing against the needs for regular updates, a 6 month cycle likely makes the most sense. Hot Wallet Management The best solution for hot wallets is not to use them. CoinBerry reportedly uses multi-sig on all withdrawals, and Bitmex is an international example known for their structure devoid of hot wallets. However, many platforms and customers desire fast withdrawal processes, and human validation has a cost of time and delay in this process. A model of self-insurance or separate funds for hot wallets may be used in these cases. Under this model, a platform still has 100% of their client balance in cold storage and holds additional funds in hot wallets for quick withdrawal. Thus, the risk of those hot wallets is 100% on exchange operators and not affecting the exchange users. Since most platforms typically only have 1%-5% in hot wallets at any given time, it shouldn't be unreasonable to build/maintain these additional reserves over time using exchange fees or additional investment. Larger withdrawals would still be handled at regular intervals from the cold storage. Hot wallet risks have historically posed a large risk and there is no established standard to guarantee secure hot wallets. When the government of South Korea dispatched security inspections to multiple exchanges, the results were still that 3 of them got hacked after the inspections. If standards develop such that an organization in the market is willing to insure the hot wallets, this could provide an acceptable alternative. Another option may be for multiple exchange operators to pool funds aside for a hot wallet insurance fund. Comprehensive coverage standards must be established and maintained for all hot wallet balances to make sure Canadians are adequately protected.
Current Draft Proposal
(1) Proper multi-signature cold wallet storage. (a) Each private key is the personal and legal responsibility of one person - the “signatory”. Signatories have special rights and responsibilities to protect user assets. Signatories are trained and certified through a course covering (1) past hacking and fraud cases, (2) proper and secure key generation, and (3) proper safekeeping of private keys. All private keys must be generated and stored 100% offline by the signatory. If even one private keys is ever breached or suspected to be breached, the wallet must be regenerated and all funds relocated to a new wallet. (b) All signatories must be separate background-checked individuals free of past criminal conviction. Canadians should have a right to know who holds their funds. All signing of transactions must take place with all signatories on Canadian soil or on the soil of a country with a solid legal system which agrees to uphold and support these rules (from an established white-list of countries which expands over time). (c) 3-5 independent signatures are required for any withdrawal. There must be 1-3 spare signatories, and a maximum of 7 total signatories. The following are all valid combinations: 3of4, 3of5, 3of6, 4of5, 4of6, 4of7, 5of6, or 5of7. (d) A security audit should be conducted to validate the cold wallet is set up correctly and provide any additional pertinent information. The primary purpose is to ensure that all signatories are acting independently and using best practices for private key storage. A report summarizing all steps taken and who did the audit will be made public. Canadians must be able to validate the right measures are in place to protect their funds. (e) There is a simple approval process if signatories wish to visit any country outside Canada, with a potential whitelist of exempt countries. At most 2 signatories can be outside of aligned jurisdiction at any given time. All exchanges would be required to keep a compliant cold wallet for Canadian funds and have a Canadian office if they wish to serve Canadian customers. (2) Regular and transparent solvency audits. (a) An audit must be conducted at founding, after 3 months of operation, and at least once every 6 months to compare customer balances against all stored cryptocurrency and fiat balances. The auditor must be known, independent, and never the same twice in a row. (b) An audit report will be published featuring the steps conducted in a readable format. This should be made available to all Canadians on the exchange website and on a government website. The report must include what percentage of each customer asset is backed on the exchange, and how those funds are stored. (c) The auditor will independently produce a hash of each customer's identifying information and balance as they perform the audit. This will be made publicly available on the exchange and government website, along with simplified instructions that each customer can use to verify that their balance was included in the audit process. (d) The audit needs to include a proof of ownership for any cryptocurrency wallets included. A satoshi test (spending a small amount) or partially signed transaction both qualify. (e) Any platform without 100% reserves should be assessed on a regular basis by a government or industry watchdog. This entity should work to prevent any further drop, support any private investor to come in, or facilitate a merger so that 100% backing can be obtained as soon as possible. (3) Protections for hot wallets and transactions. (a) A standardized list of approved coins and procedures will be established to constitute valid cold storage wallets. Where a multi-sig process is not natively available, efforts will be undertaken to establish a suitable and stable smart contract standard. This list will be expanded and improved over time. Coins and procedures not on the list are considered hot wallets. (b) Hot wallets can be backed by additional funds in cold storage or an acceptable third-party insurance provider with a comprehensive coverage policy. (c) Exchanges are required to cover the full balance of all user funds as denominated in the same currency, or double the balance as denominated in bitcoin or CAD using an established trading rate. If the balance is ever insufficient due to market movements, the firm must rectify this within 24 hours by moving assets to cold storage or increasing insurance coverage. (d) Any large transactions (above a set threshold) from cold storage to any new wallet addresses (not previously transacted with) must be tested with a smaller transaction first. Deposits of cryptocurrency must be limited to prevent economic 51% attacks. Any issues are to be covered by the exchange. (e) Exchange platforms must provide suitable authentication for users, including making available approved forms of two-factor authentication. SMS-based authentication is not to be supported. Withdrawals must be blocked for 48 hours in the event of any account password change. Disputes on the negligence of exchanges should be governed by case law.
Continued review of existing OSC feedback is still underway. More feedback and opinions on the framework and ideas as presented here are extremely valuable. The above is a draft and not finalized. The process of further developing and bringing a suitable framework to protect Canadians will require the support of exchange operators, legal experts, and many others in the community. The costs of not doing such are tremendous. A large and convoluted framework, one based on flawed ideas or implementation, or one which fails to properly safeguard Canadians is not just extremely expensive and risky for all Canadians, severely limiting to the credibility and reputation of the industry, but an existential risk to many exchanges. The responsibility falls to all of us to provide our insight and make our opinions heard on this critical matter. Please take the time to give your thoughts.
https://soundcloud.com/user-807100315/hostinger-best-web-hosting-review Visit at- https://webhostingservice.home.blog/2019/06/02/hostinger-free/ There's no uncertainty that with regards to web hosting, Hostinger is just the least expensive choice accessible today, with costs beginning at $0.99 every month. No other organization figures out how to try and approach. A large portion of them offer a fundamental arrangement for multiple times the cost. Believing that it's unrealistic? It isn't. Yet, let me let you in on a little mystery at this moment. To get the best costs, you'll need to focus on Hostinger for quite a while. This would be a keen activity – if the administration is really extraordinary. Since your guests couldn't think less about the amount you pay for hosting. They do think about quick stacking speeds, and about really having the option to arrive at your site when they have to. They additionally need to realize that their own information will be secure and ensured. Could Hostinger offer that? I have my assessments; however I would not like to put together my audit with respect to my supposition alone. As Website Planet is accessible in various dialects, for some odd reason we have web hosting specialists dissipated everywhere on over the world. This was my brilliant chance to play out an enormous scope test, and I chose to do precisely that. We had 30 specialists join to Hostinger and dispatch a neighborhood form of our testing website in 30 distinct nations. They messed with each accessible element, observed stacking velocities and execution, and even besieged client care with questions. They contrasted the outcomes and other mainstream has, as SiteGround and InterServer. This speedy response to every one of our inquiries is that Hostinger performed strikingly well. In certain nations, similar to Russia, it came in at #4. In others, similar to Israel, Hostinger grabbed the #1 place. Peruse on for the long answer. I've point by point my full close to home involvement in Hostinger, and I'll disclose precisely how to take advantage of what the organization offers. To perceive how Hostinger looks at to different administrations, look at our rundown of the top web has. Everything an Amateur Needs With costs being as low as they may be, my restless character quickly recognized two zones where Hostinger may be attempting to pull one over on me: highlights and execution. Indeed, I'd love to pay half of what the contenders charge, yet I would prefer not to get just 50% of what they give. Fortunately, that wasn't the situation by any means, as Hostinger's arrangements incorporate all that I expected to get moving, from abundant assets to execution boosting apparatuses. Three shared hosting plans are accessible – Single, Premium, and Business. Each of the three works on head of Hostinger's own special control board, cPanel, which incorporates simple auto establishments of WordPress and many other substances the executive’s frameworks (CMS). I pursued the essential arrangement, which accompanied 10GB of plate space, 100GB of transfer speed, 1 email record, and backing for a solitary website. It's sufficient assets to construct an entirely good website – consider hundreds pages and a huge number of HD pictures. Certainly enough to grandstand your composition, innovativeness, items, administrations, or whatever you're anticipating hosting. The two progressed plans accompany boundless data transmission, boundless email accounts, and boundless websites. Some additional advantages that you won't get with the Single arrangement incorporate SSH access for you Linux-sharp designers, boundless sub domains, and boundless information bases. Programmed every day reinforcements are the one basic component that the fundamental arrangement needs, which means you'll need to perform reinforcements physically or buy the administration as a different extra. Hostinger has an intuitive website manufacturer by the name of Zyro, however it isn't accessible as a component of the hosting plans. Before we dive further into Hostinger's best highlights, a word on the VPS and cloud plans. Hostinger is above all else a mutual hosting supplier. Try not to be that person who goes to the best pizza joint around and requests pasta. There are has that represent considerable authority in VPS and cloud administrations – Fluid Web and Kinsta, for instance – and keeping in mind that Hostinger's contributions in the field aren't the most exceedingly terrible, there's no motivation to go for them. cPanel Has All the Fundamental Highlights, yet Does not have Some Serious Ones As I said previously, Hostinger has built up its own exclusive control board, which means you won't get the chance to play with the dearest cPanel that you know and love. What's that? You don't create enthusiastic connections to hosting control boards? All things considered, you're the bizarre one. At any rate, while cPanel used to be the standard control board you'd get with most has (counting Hostinger), things change. Because of some exhausting venture show that happened some time back, has have been exchanging boards left and right. cPanel is Hostinger's endeavor into the board world, and you'll see it furnished with all the treats you need. From simple auto establishments and DNS zones setups to email accounts, a record administrator, and MySQL information bases, it's all fundamentally the same as what cPanel offers. However, a few things are unique. For instance, auto establishments in cPanel are finished with Softaculous, which additionally lets you clone your site, set up an arranging variant, and even design a reinforcement plan. cPanel's Auto Installer works admirably at auto-introducing WordPress, yet does not have these valuable additional items. Progressed email highlights, such as mailing records, channels, and routings, are additionally absent from cPanel. Did I ever really use them myself when they were accessible to me? Truly, never. I don't know who does. Yet, that is cPanel for you – it probably won't be equipped for everything, except it's certainly enough for most clients. Amazing Reserving On account of the LiteSpeed Web Worker LiteSpeed isn't the physical metal worker, however the web worker innovation that Hostinger employments. It reliably positions as one of the quickest and most dependable web workers, beating the more seasoned Apache innovation that hosts like GoDaddy despite everything use. You won't need to successfully arrange it. Simply kick back and appreciate the first class execution it conveys, particularly for WordPress websites. What you can do, and assuredly ought to do, is initiate LiteSpeed's reserving capacity, known as LSCache. Sounds excessively specialized? Indeed, turning on the Programmed Store alternative basically summarizes it. Stored duplicates of your pages will be made, fundamentally slicing conveyance times to guests. Static pages, similar to business pages and portfolios, will profit by this significantly more. A SSL Declaration that you could conceivably be getting You need a SSL testament. Regardless of what you think and regardless of what anyone might've let you know – you need a SSL. Why? Since without a SSL authentication to scramble and secure your guests' information, the numerous wrongs prowling on the web will seek it. You'll not exclusively be taking a chance with your undertaking and your guests' wellbeing; however you'll additionally endure a shot on Google's rankings. Today, Hostinger furnishes a SSL with the entirety of its arrangements. In the metaphorical yesterday, which for my situation was only two or three months back, no testament was given. What will happen tomorrow is impossible to say. Hostinger regularly messes with its arrangement highlights, and I propose that you triple-check and ensure that a SSL is to be sure included with your arrangement. Realize that if a SSL is excluded, it's conceivable to buy one as a different extra. In any case, that shouldn't be the situation. All that Is All around Structured, however you’ll be under Consistent Assault from up sell Pop-Ups. Laying it out plainly, Hostinger's client experience specialists have designed an awesome interface and client venture, from information exchange to utilizing and dealing with your hosting. Thing is, Hostinger's business methodology depends on continually pushing you to overhaul and buy additional items. It's irritating, best case scenario, and confounding at the very least. Yet at the same time, the plans are unmistakably spread out, and all Hostinger requests on information exchange is your name, an email address, and a secret word. Yahoo for getting rid of all the insignificant data that different hosts are so enthused about gathering. Interfacing a Domain and Introducing WordPress In the wake of buying my arrangement, the time had come to associate a domain and introduce WordPress. I was given the choice to consequently introduce WordPress as a major aspect of the information exchange measure, however I decided to do it the normal way, utilizing the control board itself, to check how Hostinger's apparatuses contrast with what different hosts give. Presently, my domain was really included with the expectation of complimentary when I bought the Single arrangement, which means it was at that point associated with the hosting. Today, for reasons unknown, just the serious plans accompany a free domain. In the event that you wind up getting your domain name from another supplier, interfacing it is simple. Nameserver data is promptly accessible at the head of your hosting subtleties page, and you should simply duplicate glue them into your domain board. Shouldn't something be said about WordPress? I opened the Auto Installer instrument, picked WordPress as my CMS of decision, and entered the essential website subtleties. It was much easier than how Softaculous gets things done, and my new website was ready for action inside one moment. Dealing with Your Hosting with hPanel Is Simple We've secured the way toward getting your website on the web, however starting here on you'll despite everything use cPanel to make alters and changes to your hosting. Setting up an email account, running manual reinforcements, dealing with the information bases, and the sky is the limit from there, are largely possible through cPanel. How can everything contrast with getting things done with cPanel? Indeed, as I would like to think, it's out and out simpler. hPanel symbols are greater and better sorted out, the interface isn't as jumbled with additional alternatives that you'll never utilize, and the combination with Hostinger's different administrations (uphold, buying additional items, seeing charging) is consistent. All in all, would we be able to consider it an ideal usability experience? Actually no, not so much. The explanation, as I said previously, is that periodically your work process will be harmed by up sell pop-ups. Think rolling out a basic improvement to your DNS records, just to be welcomed with this: I didn't "Increase present expectations." I didn't really do anything aside from sign in. Yet, Hostinger is enthusiastic about pushing plan redesigns, and you'll need to consistently be set up to close down these endeavors, of which there are many. Don't count on the possibility that these pop-ups imply that you've by one way or another spent your assets and need to redesign. Pass on, It's the Quickest Common Hosting Administration We Tried Speed and uptime that is what I'm searching for. Tragically, shared hosting administrations will in general vacillate in these regions, no doubt. The explanation is that as the name infers, you're offering assets to numerous different clients and their websites – in some cases up to many others. It takes an extraordinary host to adjust everything and stay away from a bottleneck circumstance where everything's moderate and no one's cheerful. I'm extremely glad to report that Hostinger exceeded expectations in the presentation tests, yet it really surpassed each other shared host that we tried, including the top-level SiteGround, FastComet, and InMotion Hosting. The main two has that improved, and just barely, were the superior Fluid Web (Nexcess) and Kinsta. Incidentally, they can cost around 20 fold the amount of as Hostinger. Just to give you a thought of Hostinger's capacities, the normal stacking season of my completely fledged greeting page was an exceptional 1.56s, and uptime over a couple of long stretches of testing was as much as 99.99%, precisely as guaranteed. I'm going to nerd out and clarify the testing technique and the outcomes in detail, yet on the off chance that you needn't bother with all the specialized data, don't hesitate to avoid ahead to my encounters with Hostinger's help. I'll simply say it again – Hostinger's presentation shook. As I do with all hosts I test, I stretched out Hostinger the chance to streamline my website and make it quicker. This is something you can (and should) do too – simply approach uphold for help. The operator prompted that I update WordPress and PHP to their most recent forms, and introduce a couple of regular enhancement modules. I actualized the exhortation, and continued with testing. The testing itself was finished utilizing three apparatuses: GTmetrix Genius, the Sucuri Burden Time Analyzer, and Uptime Robot's Professional arrangement. The Dallas, TX, GTmetrix worker was utilized to quantify speed and advancement scores in the US. Sucuri was utilized for worldwide execution experiences, and Uptime Robot – who could have imagined – for following the website's uptime and accessibility online in rates. GTmetrix I ran various GTmetrix tests over a couple of months, totaled the outcomes, and determined the best, slowest, and normal paces. Hostinger indicated a promising normal stacking season of 1.56s. The best recorded time was 1.0s, and the slowest one was 1.9s. Not exclusively is the slowest stacking time well underneath the 3s imprint (where the majority of your guests will likely escape), however the normal scores demonstrate that Hostinger is as solid as anyone might imagine. You can see that score-wise, we're getting twofold Bs. That is totally satisfactory, yet in addition probably the most noteworthy score I found in my tests. The main thing left to do so as to get full scores is to improve the pictures further. Sucuri Burden Time Analyzer As with GTmetrix, I ran Sucuri tests on numerous occasions. Sucuri gives you the stacking speed results for some worldwide areas, and I determined the midpoints of the quickest area (which was obviously in the US, near my server farm), the slowest area (Bangalore, India – the opposite side of the world), and the worldwide normal. The normal for the quickest area was an incredible 0.177s, while even in old fashioned Bangalore the normal was good – 1.11s. The worldwide normal was 0.499s, which earned my website an A worldwide position. Frankly? I was shocked by these numbers. A worldwide normal of 0.499s is unfathomable for a common host, and everything I did to "streamline" my site was introduce a couple modules. There wasn't so much as a CDN (Content Conveyance System) dynamic. That is LiteSpeed and LSCache for you, women and respectable men. Get it while it's hot. Uptime Robot What great are quick speeds if your website has low accessibility? Nothing but bad. Fortunately, Hostinger is keeping it tight with practically immaculate uptime – 99.997% in the course of recent months. I'm proceeding to track and update the outcomes; however coming barely short of 100% is actually what I request from my host. Uptime ensure shrewd, the circumstance is somewhat extraordinary. There's apparently a 99.99% uptime ensure gave, yet Hostinger has a genuine scrappy lawful clarification of when and how you can get your cash back. It generally seems like "never" to me, and regardless of whether you some way or another fit the bill for a cash back (as exclusively dictated by them), it's a measly 5% of your month to month cost. Goodness, and it's only for store credit. In any case, beside this assurance issue, Hostinger truly blows it out of the recreation center in the exhibition test. When Extraordinary, Presently… Requires Tolerance As a long-term client of Hostinger, I've had the delight of testing it over and over… and once more. One of my preferred pieces of the administration used to be the help. There wasn't (and still isn't) any telephone uphold accessible, yet stunning, was live talk a successful method of finding support. Day in and day out help, kept an eye on by experts, and supported by a broad information base of immense extents. The main issue? While the operators used to react in a flash, today they take around 40 minutes to hit you up. In some cases live talk isn't even accessible, and you're moved to some ticket/email framework which I've had next to no karma with. I'll be totally fair with you about what this implies: it will be you and the information base. You can't rely on having an hour accessible to just stick around, and in any event, when the operators do reply, that is only the start of the cycle. With 3 brief reaction times in the middle of messages, posing some straightforward inquiries can expand into a whole workday. The Least expensive Long haul Costs Available, by a wide margin Truly, people, this is the explanation you understand this. While going over the many hosting choices accessible today, Hostinger's costs stick out. That is to say, $0.99 every month? That is excessively modest. What's the trick? Straightforward. Hostinger needs you to pursue a significant stretch of time, and it will give you motivating forces to do as such. Four installment periods are accessible: month to month, yearly, bi-yearly, and quadrennial. That final word implies four years, and it's scarcely utilized in light of the fact that practically no other host approaches you to pursue that long. Fortunately pursuing four years will net you what's without a doubt the best cost in the market for shared hosting. Different hosts charge a comparable cost for a yearly arrangement. Crunch the numbers yourself. What's the circumstance when pursuing shorter periods? All things considered, bi-yearly and yearly plans aren't costly, yet they're significantly more in accordance with the market normal. Month to month plans accompany an arrangement expense and don't bode well. Worth insightful, up to a SSL is incorporated (check!), the plans are totally comparable to the business standard. There's additionally a 30-day unconditional promise, so you'll have adequate opportunity to test the administration yourself and check whether it's a solid match. One thing to see during the checkout cycle is that there are a couple of discretionary extra administrations. Fortunately, none of them come pre-checked. I suggest that you skip them all. You can generally include them later at a similar cost, or "convince" a help operator to give you a superior arrangement… dangers of leaving the administration can do something amazing here. Searching for a free domain? Now and again it's remembered for the plans; some of the time it isn't. The serious plans normally accompany one when pursuing a year or more. At the point when I joined, a domain was additionally remembered for the fundamental arrangement. Presently it isn't – go figure. Concerning making installments, notwithstanding the normal charge card and PayPal choices, you'll additionally have the option to pay with bitcoin and different cryptographic forms of money. Whatever your reasons are for needing to have a website secretly, crypto is the best approach to do as such. Hostinger's reasonable shared hosting plans merit your time, your cash, and your thought. Execution has been shockingly extraordinary, and keeping in mind that it's not the most element pressed contribution around, it has all that you truly need. Would it be advisable for you to put it all on the line? In case you're constructing a blog, a business page, an individual task, or a comparative little to-medium website, my answer is a resonating yes. In the event that it's a web based business store you're hoping to fabricate, or a mind boggling administration like an online course gateway, you'll need something more remarkable than shared hosting. It'll cost you, yet Fluid Web and Kinsta are both better prepared for such ventures.
Blockrewards! Earn Crypto by Completing Tasks! With payment proof
Kumita ng crypto sa pag gawa ng mga simple tasks! My Payment Proof! ->> https://imgur.com/a/MecWerf 8/15/2020 - ako nag register 8/18/2020 Naka ipon na 1$ after ilang days lang sa pag install nung game at nagpa level. then nag verify nang phone number. waiting na lng pumasok sa uphold as bitcoin. then rekta na coinsph. 8/19/2020 Pumasok na sa UPHOLD ko mga sir. Considered as cash na etu papuntang coins.ph - Check Pics Blockreward ($2 BONUS) -> SIGN UP HERE Ano meron kay blockreward? AvailabilityBlockreward is supported in 115 countries. More countries will be added as we continue to expand. Earning
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Heads up! LBA (Cred) is a CeFi company offering great interest rates on Crypto holdings through Uphold, Bitcoin(dot)com, and some other major projects. There are 1 billion tokens max, 875m circulating. Current price ~$0.015 CredEarn is the program that users earn interest. Premium interest rates are given to users who stake 10,000 LBA tokens. Example: Bitcoin interest rate is 4% standard and 7% if staked 10k LBA. Since there are 1B tokens and 10k staking for premium, there will only ever be max 100,000 premium accounts. Interest earnings are available on over 30 coins, including stablecoins, btc ltc eth, and even LBA itself. The company holds $200M in assets. Defi projects value holdings as mkt cap (see COMP Compound(dot)finance as example). If LBA followed that model for valuation, the token should trade closer to $0.20... 10x+ its current price. With growing adoption and when bitcoin moons 5x, it is possible that Cred Assets will raise from 200M to 2B. In the above scenario, the mkt cap valuation would value LBA at $2.00. Using current valuation ratios, .closer to $0.15. This is my case for a 10x to 100x moon for LBA. 200m assets, 12m mkt cap (realized) and huge growth with limited token supply. If an investor wants to put $1,000,000 into CredEarn... w/o staking, will earn $40k/yr. Staked is $70k/yr. Of course they would pay $10,000 to stake for premium. Afterall, you can unstake at any time!
Launched our first Tribe Competition for National Pet Photo Data where the member with the pet voted the cutest will win $100! The first day was so successful, our servers crashed! Take part in the first UBDI competition before it ends
Increased the size of photos in the feed, so your pets are always in the limelight
Created new charts for our investor group which will compare data from actual member crypto holdings with market expectations that can be filtered by data attributes.
Added new App Store screens to show our new style and path
Released our new App Demo video to preview the future of UBDI
Public traits are now live! Settings → Tribes Management to pick the traits you’d like to show off in each tribe, change the color of your avatar to make your avatar feel more unique, or leave a tribe all together
Before I started using Uphold to purchase Bitcoin I used LocalBitcoins.com and switched to Uphold because it worked out cheaper at the time. However, last night I went on LocalBitcoins to see if anything had changed and I found out that it would in fact be cheaper for me to use LocalBitcoins by about £2-3 per transaction. Localbitcoins.com transaction fee to withdraw to a wallet is 0.00001451 Satoshi, ( approx. £0.11), whilst Upholds flat network fee is 0.00030 Satoshi. I have made numerous Bitcoin buys thru Uphold since January when I began and could have saved £2-3 per transaction. The moral of the story is that I advise people to shop around for the best rates as you can learn something new every day of the week and its never too late to pick up a bargain. Onwards and upwards. Viva Bitcoin 🏴.
Bought a small token ammount of bitcoin on uphold as a test (first purchase), and a couple days later bought a much larger chunck (relatively). The next day i got an email saying my account was suspended, and customer service has not responded in about 3 days. Any advice on how to proceed? I have already posted in the uphold official sub reddit and left one star rating on google play. Has not generated anything as of yet. Thanks for the help. If this is the wrong forum please let me know which forum to move this to. Thanks! Update: 4 days after recieving receiving notification that my account was suspended, i finally got a response asking me to confirm my identy (again) and provide more details about the card i used to conduct the transactions. I provided this to them and recieved a response about one day later that they could not offer me an account and would refund my money. Still have not recieved the refund. I am interested in how they will calculate the refund. Conclusion so far: would not use uphold due to the slow customer service. Additionally, if they suspend your account, you can no longer see any data related to your account, so ensure you take screenshots to have proof of what asstets you own in case you need it. I will also say i understand some of the additional scrutiny, as i am a US citizen living overseas, but due to my job status, everything is treated as if i was in the US. They collected enough of my personal where this should not have been a problem (this is one of the reasons i did not start with coinbase pro or Gemini - they won't verify my account because some of my data does not match i.e. my cell phone number is a non US number). Got to start looking for non kyc exchanges that are reliable. Was really hoping to avoid the higher fees. Update 2: finally got my funds returned, to include fees (except .10 cents).
Universal Protocol Token (UPT), native token of Universal Protocol Alliance formed by Bittrex, Brave, Uphold, Cred, BitGo and more
Hi all, I'm a long time reader, first time poster. Thought you guys maybe interested in learning about Universal Protocol Token (UPT). Who's Universal Protocol Alliance? (quoted from their website)
We are an alliance of like-minded cryptocurrency companies and blockchain pioneers. Our mission is to bring 100 Million new users into cryptocurrency. Our technology, the Universal Protocol Platform, is a transformational development for the entire blockchain industry, allowing new types of digital assets to be created and all cryptocurrencies to be convertible on a single network.
Brief Introduction UPT is used to redeem digital assets locked in full reserve on the Universal Protocol, and conversion (wrapping) fees will be paid in UPT. Token holders also have governance right, discounted trading fees and interest rate for loans in the ecosystem. Utilities summarized in this pic. UPUSD and UPEUR are already listed on Bittrex and Uphold, and UPBTC is available on Uphold. The reserve situation is fully transparent. My analysis of UPT: Pros -Backed by prominent industry players -A lot of similarities with Project Libra and BNB -Universal Protocol Alliance bridge nicely between legacy system and crypto (e.g. optional key recovery, inheritability, custody service) -Currently trading at 40% off from ICO price (US$0.01= 1 UPT) -Hugely under the radar (not even on CMC) Cons -Low liquidity (at the moment) -Low circulating supply (at the moment) -Only 20% of the token were offered for Token sale and 40% allocated for public purchase Website:https://universalprotocol.io/ Market: Bittrex, Bitcoin.com
At today rate 43,500 BTC were traded during 2019 in Venezuela using LocalBitcoin, which is around 314,000,000 USD (leader in South America). Minimum wage is 3 USD per month. Today one BTC is around 314,000,000 Bs. (Bolivares)
Hi guys, me reporting again. Happy new year! That is the volume ONLY using LocalBitcoin (LBTC), here people use Uphold, Airtm and other exchanges (even local ones). Minimum wage (which is earned by a big chuck of the population, not like other countries) is 150.000 Bs. (Bolivares) wage (3 USD) + 150.000 Bs. food bonus (3 USD) PER MONTH. Government gave away a 0.5 Petro airdrop to a lot of people two week ago as a "bonus", which is around 30 USD. More than a crypto, Petro works like an asset its USD value is fixed and the thing that changes is the Bs. (Bolivares) value. From the crypto perspective, it was ok, even when I dont sympathize with the current government. Anyway most of the people exchanged it to fiat to purchase food, even when the USD price of the petro is fixed as there is a lot of offer and low demand, people are paying low. This is a way of direct subside to people in need instead of subsiding the final products. So they are moving a little to the center from the left. Biggest bank note is 50,000 Bs. which is around 1 USD. You need to use debit and credit, bank transfer, cryptos and USD to pay anything. There is a big department store, called Traki that accepts (besides USD and Bolivares) ETH, BTC, LTC and PETRO. This after 5 zeroes were shaved from the currency less than a year ago and 3 zeroes more 12 years ago. So that banknote would be 5,000,000,000,000 Bs. Here in Venezuela situation is really hard, some people dont believe that amount is the minimum wage. I work and earn a little more than that (anyway, the amount is really low, I'm sure with that amount I would be living homeless in Colombia, Peru or Panama for example), usually get some donations from redditors (I really thank them!) and do some freelancing work (translating mostly) and it is really hard to keep up daily. Sometimes people encourage me to keep posting. Scarcity has lowered because goverment "opened" a little (their "center" movement), you can find a lot of products now at the stores and supermarkets (national production or imported), if you have a good wage or income you will be "better" now but if you are old and your only income is around one or two minimum wage, you cannot even enter the stores and you only can but two kilos of meat with your monthly wage. https://www.usefultulips.org/Latin%20America_Page.html https://www.diariobitcoin.com/index.php/2019/04/29/traki-la-tienda-por-departamento-venezolana-cuenta-por-que-acepta-criptomonedas/ Sources: https://coin.dance/volume/localbitcoins/VES/BTC https://www.usefultulips.org/Latin%20America_Page.html https://www.bloomberg.com/features/2016-venezuela-cafe-con-leche-index/ Official rate (Venezuelan Central Bank http://bcv.org.ve/ ) is 46.620 Bs. (Bolivares, national currency) per each USD. Street rate is almost the same. https://dolarsatoshi.com/ AMA!
Cost basis/income tax calculations for BAT earned from ads
So, seeing posts like this one around here is making me concerned. If I simply have Brave Rewards enabled in my browser, and nothing more - I'm not registered as a creatopublisher, I'm not verified with Uphold, I haven't in any way cashed out my tokens - what in the heck do and don't I have to report on my 1040 to avoid getting stuck in a perjury trap? Every website and Reddit commentor seems to have a different answer on this. Some of the answers are more clearly in line with IRS guidance than others but in many cases there is no clear sense to be had of which is "more reasonable" than the others. Yet since I've had Brave Rewards enabled since mid-2019, it behooves me to "get this right" when I fill out my 2019 tax return, lest the IRS come down on me for being inconsistent with my answers should I have better answers to these questions in future years. The IRS is clear on one thing: cryptocurrency, in general, is valuable property and treated much like gold or other non-dollar capital assets (whether or not they're intended or used primarily as "money"). If your employer pays you in bitcoin (or gold, or a car, or a cow, etc.), you owe taxes on that income the day you receive it, whether or not you "cashed it out" by selling it for dollars. The IRS expects you to compute a "cost basis" for the property you received by determining its current "fair market value" in dollars, and that's what you report on your tax return. If and when you sell that property for dollars at any later date, that's a separate transaction, which may or may not incur a capital gain or loss (difference in value you received from the sale vs. what it was worth when you originally got the property), and that is reported in its own line on the 1040 (separate from ordinary income, depending on whether you held the property more or less than 1 year before selling it). So far, so good - that's all straightforward enough and well-precedented since it's the same thing people are used to doing for other capital goods such as stocks/bonds, precious metals, or real estate. It's even straightforward for people who simply trade crypto as an investment, like Bitcoin or whatever. In that case it's no different (tax-wise) from trading gold, and if you do it through a broker like Coinbase, Uphold, etc. you'll probably get a nice statement at the end of the year that breaks it all down and you can import into TurboTax or whatever. That's still well and good for those who (like many here) are trading BAT as an investment, like any other crypto. But Brave Rewards's BAT microtransactions are a whole 'nother level of craziness. If we're just using BAT within the Brave ecosystem - receiving it from ads and tipping/auto-contributing it back to publishers - does it ever enter the world of "capital assets" from my perspective as a user? If so, how the heck do I compute my cost basis? How on earth do I know how my BAT balance breaks down in terms of amounts received on particular days, which I absolutely need to know if I'm going to look up BAT/USD exchange rates online to compute cost basis information? Brave currently doesn't provide any sort of "wallet statement" showing transactions in or out of the browser on a date-stamped basis. I know that's planned for "the future", but that doesn't exactly help me for doing my 2019 taxes. I realize that Brave cannot give "tax advise" per se, ad nauseum. But surely Brave has done some thinking about the tax implications of BAT/Brave Rewards for ordinary users, versus just saying "have fun explaining this to the IRS" - right? We know that Brave can and does make legal statements about what they believe, as a company based on the advice of their corporate counsel, the legal status of BAT is (see e.g. this answer in the official FAQ). That, of course, doesn't guarantee that the government will see it that way (or that a judge will), but it's at least helpful to know "some professional lawyers spent a lot of time studying this and think the law says X", because that's a heck of a lot more than us randos on the Internet can guess at. At least if we have some consistent guidance, we can know what our story should be to the IRS and keep it straight, because otherwise we're at the mercy of whatever some auditor or administrative law judge might feel like. Maybe they won't go after most small-fry Brave users today, but you can bet they'll demand answers going back years into the past if one of those users were to become rich, or politically active, or otherwise interesting to the IRS at some point in the future. Taxes, after all, are the one area of the law where citizens are for practical purposes considered guilty (or at least, "liable to pay whatever the IRS demands") until proven innocent. (Sad, but too true.) My case is the simplest possible one for a Brave Rewards user: I'm a resident U.S. citizen who's never "cashed out" my BAT, I'm not a "publisher" or "creator", I haven't received tips, and I'm not verified with Uphold (couldn't if I wanted to, since they're not licensed in my state). I've only ever made four small tips totaling 40.0 BAT with the initial grant I got from the User Growth Pool when installing Brave (because it was going to expire); I've been hanging onto my non-UGP earnings in the hopes that some of my favorite websites/creators will eventually become verified and I can start spreading the wealth around in a more meaningful way than just dumping it on the 1 or 2 sites I visit that are yet verified. My questions are thus: 1) Is the BAT I receive from Brave Rewards considered to be a capital asset if I'm not holding it as an investment but just leaving it in the browser to be used as intended there (as a way of funneling ad proceeds from advertisers to publishers)? Does it matter if it stays in the browser and never gets withdrawn to an Uphold account? (e.g. does it then just qualify as "internal functionality of the web browser" and not a meaningful valuable thing I can put a dollar amount on, like a McDonalds Monopoly token with a "cash value" of $0.0001?) 2) If my BAT is considered a capital asset, how do I compute my cost basis for income (and future capital gains/losses) purposes? Is every single microtransaction an "income" transaction with its own separate cost basis that I have to track day-by-day? Or is income only realized when Brave deposits my earnings to my browser on the 5th of the month? Or does it only count if/when I connect an Uphold account and "cash out"? 3) Do I have to answer "Yes" to the new 1040 question asking "did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency"? (I haven't touched any cryptocurrency in my life besides what I've gotten from Brave Rewards.) Is BAT a "virtual currency" when used strictly within the context of Brave Rewards, or is it something more along the lines of spendable XP points in a video game which have no value (for me, at least) outside that system? 4) If I have to do detailed cost basis reporting, is there any way I can get my Brave browser to cough up some sort of datestamped transaction history for my Rewards? I realize there's no official UI yet, but is there an internal database or something I can dump? (I'm a professional software developer so I'm willing to "get my hands dirty". Heck, I'd be willing to fire up a debugger on a core dump of the browser if that'll help...better that than being liable for tax fraud...) 5) If all else fails, can I escape this blooming mess by just turning off Brave Rewards, forgetting my wallet key (which I've never backed up), bit bucketing the BAT I've so patiently earned over the last year, and never looking back? Is it too late to do so since I've already received the BAT in tax year 2019 (regardless of what I might do with it in 2020, including thus throwing it away)? I realize that in practice I could probably do so and get away with it, but I want to be right with the law here. After all, even if I report nothing on my 2019 tax return regarding crypto, the IRS could always find my posts here on Reddit and say "see, we have proof that you used Brave Rewards in 2019"... Even if I'm a "small fry" at this point in my life that the IRS won't care to go after, I don't want to have a sword of Damocles hanging over my head for them to trigger if and when they feel like it later in life. Help me my dudes, you're my only hope! ;-) (And I suspect many, many others are quietly freaking out about this too...)
Pi Network! This golden project is an opportunity.
What is Pi Network?
Pi Network is a virtual currency that can only be mined or mined on a phone, but does not consume device resources like other free mining applications. Previously Pi Network could include mining applications such as Electroneum (ETN), but this application consumes your device resources to decode the algorithm (Electroneum uses cryptonight algorithm). With Pi Network, when you dig coins will feel the device does not heat up. In addition, you can also turn off the application or turn off the network and still be able to mine coins every 24 hours.
Pi Network is still in BETA. The project is still in progress which means that there will still be errors and some details of the project are still changing. While many cryptocurrency projects start from pure theory, Pi Network seeks to balance theory with design and people-centered (or experiment with real people to best meet their needs). ). The project appreciates your patience and welcomes your input as we work together to develop products that best meet community needs. Pi does NOT give you free money. This is a long-term project whose success depends on the common contribution of its members. Pi helps people capture economic value, which is held by banks, technology giants (e.g. Facebook, Amazon) and other intermediaries. Pi depends on the contribution of the members. Therefore Pi NetWork is not suitable for those who want to make money quickly.
2. Is Pi Network scam?
Pi is not a hoax. This is an attempt by a group of Stanford University alumni to spread the cryptocurrency to more people. Pi Network's core team is led by two Stanford PhDs and one Stanford MBA, all of which help build the blockchain community at Stanford. There is no guarantee that the project will succeed. However, Pi Network will work hard to make common dreams a reality, while upholding the highest standards of transparency. You can learn more about Pi's core team on the app, or simply by typing these people 's names into the Google search page: - Nicolas Kokkalis: Head of Technology - Department Chengdiao Fan: Vincent - McPhillip Product Manager: Community Manager 📷 https://preview.redd.it/rozcs5h1p4351.png?width=710&format=png&auto=webp&s=c5952d879514c33e643958aab8d5ca5ae382ba41
3. How to make money with Pi Network?
How to exploit Pi Pi Network does not call you to invest or do anything. Your job is very simple, you just need to have a phone, download the Pi Network app and create an account, press the Start button daily and the PI digging will take place even if your computer is not connected to the internet . You also do not need to open the active application. Pi does not affect your phone performance, does not drain your battery or use your network data. To start earning Pi, check the app every 24 hours and press the lightning button to start mining. You can increase your hourly Pi rate by inviting friends and family to join the community. After 3 days of exploitation, you can increase your income even more by building your security circle, which contributes to the overall security of the network. And remember, veterans of the network have a higher rate of extraction than the members who come after them. Why are veteran members exploiting more? Pi's goal is to become a widely distributed and widely used electronic currency in the world. To achieve that goal, Pi encourages members to contribute early to ensure the success of the project (eg network protection and development). To reflect the importance of early contributions, the rate of extraction decreases as more people join the network. At this point, the base mining rate will be halved every time the number of active users increases by 10 times. This ratio will be reduced to zero when the network reaches a certain number of users (for example, 10 million or 100 million). At the time, like Bitcoin, miners would continue to receive rewards with transaction fees, rather than being rewarded with new coins. What is the Pi Network security circle? The security circle is a group of 3-5 trusted people built by each Pi member, to prevent fraudulent transactions. While cryptocurrencies like Bitcoin secure their ledgers by forcing mining companies to burn energy (proof of work), Pi still guarantees its ledger when members of the network prove trust with each other. Pi contributors guarantee each other by building up security groups of 3-5 members whom they deem reliable. The security circle should include people you trust not to make fraudulent transactions. The cyber security circles form a global trust chart to determine who can trust to conduct transactions on the Pi ledger. https://preview.redd.it/rmekfcizo4351.png?width=710&format=png&auto=webp&s=92a054233ec9c1844b32c24b0a06d0a47e9302b1
4. What is the Pi price?
Pi is worth approximately 0 dollars / euro. Yes! If the price is $ 0, then we dig PI do? Also you wonder when PIs will be valuable? While everyone thinks that PIs are not valuable and do not participate, just like when BITCOIN 2008 had no value. If you are a PI holder PI holders have two options to convert PIs into cash: - Buy goods and services directly with your Pi. Pi Network is building a peer-to-peer market where members can directly spend Pi to buy goods and services. Pi Network aims to start a bank transfer test in its application immediately after Q42019. - Exchange Pi for cash on cryptocurrency exchanges. Pi will be able to be traded during Phase 3 of the project (such as when launching the Mainnet). At that time, exchanges may choose to list Pi. At this point, Pi's core team focuses on implementing the right technical roadmap to reach phase 3. (I still remember in 2015, in MMO communities, competing to receive free coins called Raiblocks (XRB) by typing captcha, each type of such a lot of XRB, it can be said that the day that XRB has no price value, almost 0. Later in early 2018 when Raiblocks changed its name to NANO project, the peak of 1 NANO coin reached 34 USD, sweeping away the dream of millionaires of MMO people, because at XRB, they sell very cheaply for each other. You can refer to the NANO price chart below) https://preview.redd.it/r8rll5eyo4351.png?width=710&format=png&auto=webp&s=235368ab0b53c5e1b09c2c88bd13e345ae26eaae
5. Download the Pi Network application
Pi Network currently supports both Android and iOS operating systems, you can access the Google Play app for Android or App Store for iOS and search by keyword "Pi Network" or click directly at the following link: https://minepi.com/150791
You cannot withdraw the Pi. You will be able to withdraw Pi or exchange Pi for other currencies during Phase 3 of the project, when Pi switches to a completely decentralized blockchain. Phase 1 of Project Pi is on March 14, 2019 (Pi Day). In Stage 1, your balance is being recorded to wait for the day Pi reaches the mainnet (Phase 3). The transfer or withdrawal of Pi is restricted until the mainnet launch, to prevent fraudulent actions, such as clone users to dig Pi, then transfer Pi to another account and legalize the process. verify your account and use that nefarious Pi number.
8. Should you dig Pi on multiple phones?
No, you SHOULD NOT dig PI on many devices. Pi Network adheres to a strict rule, meaning that only one account can be used per person. Pi Network uses a multi-pronged strategy to ensure that fake accounts cannot exploit Pi First, the Pi network uses Google Recaptcha v3 to know which devices are operated by humans or robots. (This technology is completely invisible to most users, because they are real people, but robots can see the captcha if the google algorithm captures them.) Over time, Pi Network is developing a machine learning algorithm based on actual user exploitation behavior to predict bots. Second, the Pi consensus algorithm (security circle) makes it easy to detect fake accounts. The fake account will not have enough real people to link to them through the security circle. Thus fake accounts will have less linkage with the rest of the network. This anomaly is easy to detect with computer algorithms. Finally, when Pi enters Stage 3 and 4 - Mainnet, only authenticated accounts can exist. Buy
About two months ago, I was walking through a shopping center in my city and I saw some empty stores, I came up with a place where I could sell clothes, and shirts with bitcoin cash logos, and obviously accept only and exclusively Cryptocurrencies, in the middle of that work to explain to the curious about blockchain and cryptocurrencies.
Venezuela Needs Education and Trust
I always say that Venezuela needs education in the field of cryptocurrencies. We Venezuelans are experiencing a very distorted era in the economy, and when bitcoin appears in the public sphere only those who were advised and who cared to protect themselves from super inflation, went running to localbitcoins.com but very few see adoption as an alternative to the solution of cash in Bolívares for example, and despite the fact that thousands of Venezuelans use cryptocurrencies, they mostly remain under the discretionary sphere for fear of the government, or fear of legality.
A small local type gondola or kiosk I saw in a small mall talk to the owner and it was too easy and fast .. he told me $ 50 per month and did not need so much paperwork. I immediately uploaded the proposal to the US with the people of Bitcoin.com and of course they said yes immediately, what I did not know was that the owner of the place had 4 more partners, when I transferred the money to look for $ in In effect, and when I had a complete project with great ideas, the lady wrote me a message saying that her partners did not want to work with cryptocurrencies for fear of the government, it was terrible news and a lot of disappointment for me and certainly not very professional for partners
The First Scam
When I felt discomfort because I was canceled the premises I received worse news, it turns out that the person who transferred the money in BCH disappeared from the fas of the earth an obvious sign of scam, immediately my mind collapsed and I began to feel strong dizziness and general malaise. I immediately began to mobilize to track the person I made a few calls, investigate, wrote to some friends and I could find the money, two days of nerves and a lot of stress passed and when I finally deigned to give up I received a message at 6 am , the money had been returned by the people of Uphold because I had a membership with good movements, but I still had to move to find the new place.
The Second Scam
When I already had the money back I had to talk to a relative to change my money, but first I had to change it to bolivars and I had to play with an exchange rate of less than $ 195 that I had to say if I changed $ 195 in digital to bolivars the account gave 2 million, but if I change 2 million to dollars in cash it would be a total of $ 170 and I had to do it, I had to take a risk. I made the change and my surprise was that this family member who, by the way, knew where I lived disappeared from the map, he wrote me a lot of excuses and he never gave me assurance that he could give me the money, just as I was a little calm because at least I was a relative and I could call his attention at any time, but as time went by I did not disturb my existence by not even having the cash, it is assumed that in any case I should first have the premises and then pay with cash .
The Best Option in the Best Place
There were several places that I visited and in all of them there were very difficult conditions to accept, for example in most of the shopping centers they requested a minimum of 6 months of contract, when my project only had a budget for 3 months, in addition to that, the real estate company asked for a % to be able to hire, you have to pay the first 3 months with 3 months more guarantee and then a key of $ 350 for 1 year ... that is almost $ 1000 to use a small place for 3 months, I gave up several times, I said that it would be impossible several times, I got sick several times, I spent hours walking, without eating anything, I kept walking, I gave up again and kept getting up. Eliminating the complexes. I imagined a place in a beautiful mall, not a huge mall, but a decent mall where I was more than comfortable and worked with thousands of people constantly. But after realizing that they wouldn't let me work at any mall or at least I didn't have that budget to start work there, I had to open my mind to all possibilities. One day I published in my Whatsaap that I was looking for a commercial space, and a friend who told me about a small shopping center in the city center that had been in operation just 1 year, was so small and new that even the premises were in structure Gray, would need a lot of work, could be hired with a value of $ 25 per month, did not condition key per year. https://preview.redd.it/679he4jf3xx31.jpg?width=2592&format=pjpg&auto=webp&s=877a9a46019312aa49191fbc64a93c3d4737bb97 I decided to eliminate the complex of luxury premises in a large shopping center, I no longer had time, and should be adjusted to the budget, take out accounts and I saw that I would need to do construction work, paint, buy Internet router and also buy or send do desks, furniture, chairs, etc ... the price was around $ 400 for 3 months in an ephemeral place without traffic of people, cheap and fast, it was expensive and difficult.
The Third Scam
When I deigned to give up I definitely realized that I couldn't give up something I had worked for so long. Then I decided to keep looking and I found another small shopping center but near a boulevard, it was very comforting to know that I had at least air conditioning, flat and smooth walls, and also I would be around $ 50 per month without so much document protocol, I would only spend in portable Internet, furniture and chairs. I decided to meet with the real estate company with 4 days left to inaugurate the installation, I had to find a way to get everything ready in just 4 days, go ahead 180 $$ with the real estate company while I found the rest of the money, and my surprise was that the 100 ticket $ was grated, and oddly enough, in Venezuela people do not accept grated dollar bills. I had to return the ticket to whom it had taken almost 1 month to give it to me, surprisingly he gave me a new one and without problems I could determine the account to meet again with the real estate. When I was on the day of taking out the full accounts, I was given approximately $ 300 for 3 months to rent the premises, I was able to reduce the cost of a difference of $ 100. On the day I send the desk, buy the chair and everything, a friend calls me saying he knows of a nice place in the business center called Bel Tower in the east of the city, which is by the way the best location for Business in my city, is a modern tower and has its own shopping center and business offices, a total of $ 85 per month for offices with desk, tables, furniture, chairs, Internet power plant and an extraordinary location. He would give me a total of $ 255 for 3 months, it was unexpected news, this place had all the conditions for a project of this nature. Barquisimeto would really be the place to start a very ambitious project. The real estate scam came when I canceled my process with the real estate company had advanced $ 80 to occupy the place, and when I canceled it was only 2 days to open, I went first to the tower I decided to agree to start on Monday and call the real estate, I said I should cancel and they told me that there were no problems, but that they should keep $ 80 per work commission, which left me breathless and speechless to continue, I did not know what to do, as a lawyer my sense of feeling was active, and I spoke with a colleague specializing in real estate law and warned me that while they had done the procedure and had to keep a percentage were not $ 80 full, they were entitled to a commission because it was me that I canceled the job, then as a lawyer I reflected and thought that they were right, I did it was to look for the money that the real estate wanted to give me, they returned me $ 40 and I came without claiming anything, I had already found a better place r and my mind had to be ready to enter the world of big business.
We started this adventure a week ago and I can say today that I am happy with everything I did during these 2 months, which were certainly the worst of my life, I was very hungry, I didn't sleep at all, I cried, I got sick, I fell but I always I never stopped, I never looked back, I remember that in a place they ran me because I arrived at the offices with very bad aspect, of everything that I had walked I ended up with dirty clothes, and of course they took the place force, without being able to do anything else just go to look for another place where by the way they would attend me well just to give me water but not to close a contract. I say they were the worst of my life because I never had a worse economic situation but I must also say that I learned things that I never imagined, I met good and bad people, and I went up and down very quickly, I had good and bad news of a Moment to another, I didn't think I could stand it alone, but I realized things that happen in my country that I can now have a clear notion of, I could ensure that I enter the world of digital business in the best way, because I already lived several failures but I learned a lot from them, and now I only have to succeed in this project that thanks to my sponsors and my advisors I will have the ability to create great ideas and be the size of the challenges that come. https://preview.redd.it/eny34nnk3xx31.jpg?width=2592&format=pjpg&auto=webp&s=0d09ddcfed8e32fcfa131baf1dc6600bf66bd5cb
Bitcoin Cash House and its Portfolio of Services.
I brought together the best team of professionals in the area of cryptocurrencies, digital business, financial market, commercial lawyers, programmers, computer engineers, designers and I also have the leverage of Bitcoin.com and Sideshift.AI worldwide. Together we provide a variety of services for investment and education of cryptocurrencies and adoption of bitcoin cash for natural and legal persons who see in the blockchain an opportunity to reach the future, and now they have the ease of shaking a helping hand where they can talk confidently and learn from the ecosystem in general. https://preview.redd.it/d7p4hpwm3xx31.jpg?width=2048&format=pjpg&auto=webp&s=bba7d208e55cf732ccd36f7731ee78b66dcc9047
Using the Internet to Donate to Andrew Yang - Cryptocurrency, BAT, and the Brave Browser
Set up tipping to give earned BAT to content creators on Reddit, YouTube, or Twitter. (Another great mission of Brave/BAT.)
Convert to another currency and spend/withdraw.
Donate to Andrew Yang!
Here's how to earn BAT using Brave to support Andrew:
Download Brave browser. Note: There is a referral program for browser downloads. By using a referral link, the referrer will earn $7.50 after ~30 days of use by the downloader. I know that many of us here will happily pass this along to to Yang campaign! ☺️ Work together to utilize this benefit. In order to generate a referral link, you must sign up to be a Brave creator at https://creators.brave.com/. As Reddit users, all of you are capable of signing up to be a creator!
Set up your account at Uphold. You must verify your identity using a driver's license, passport, etc. There are regulations in the US related to knowing your client that Uphold must follow. Initiate this process by clicking the Brave Rewards button > "Verify Wallet" to the right of the address bar. (It's an orange/pink/purple triangle.) This should bring you to uphold.com where they will guide you through creating an account.
After your account is verified on Uphold, ensure that your Brave wallet is synced with Uphold. The "Verify Wallet" text should update to say "Wallet Verified". Your earned BAT will now sync to Uphold.
Once you have BAT in your Uphold wallet, there are a couple of options to get this money to Andrew:
Withdraw to your bank account. You will then use the standard method for donating to Andrew Yang at yang2020.com/donate. Note that there will be a bit of a delay between withdrawal and funds arriving in your account. Uphold also has a 1.95% withdrawal fee.
Easy ways to earn a little bit of cash with referrals, and cryptos
Do you know any small business owner that accepts credit cards? Are you a small business owner that accepts credit cards? Refer your own business, or a business owner and save them money and earn a little bit yourself! A lot of small business owners don't realize they're getting raked over the coals with merchant processing fees. Refer them to Dharma Merchant Services through this and make a few bucks extra a month. https://dharmamerchantservices.com/dharma-referral-program/ I referred one business and get about $7/month average. Another business I referred, I was getting $60-70/month, but they switched to another company because Dharma is out of state and they wanted a local company. :-/ Free Cryptocurrencies Via Brave, Coinbase, and Blockfi 1) Sign up with Coinbase and go to https://www.coinbase.com/earn 2) Watch all the videos, etc and earn as much free cryptos as you can 2) Use the link provided in the BAT section of Coinbase Earn to download and use the Brave internet Browser - you earn what's called Basic Attention Token (BAT). https://coinmarketcap.com/currencies/basic-attention-token/ 2) Sign up with Uphold, the company that deals with your BAT/wallet - You'll see it in the Brave rewards tab. Make Sure to set your ad setting to 5/ads per hour, the highest setting. They pay out on the 5th of every month. 3) Transfer your BAT to Coinbase and convert it to Bitcoin, USD Coin, or your cryptocurrency of choice. https://coinmarketcap.com/currencies/usd-coin/ . Coinbase offers 1.5% on USD Coin and 5% on Tezos. Or convert all of it into Bitcoin/USD Coin and follow step 4. I've never converted any cryptos from this back into US dollars, but nothing is stopping you from doing it. Optional Step to earn a return on those free cryptos 4) Make an account with Blockfi.com and deposit Bitcoin or USD Coin and start earning getting a return on your deposits. Currently, Blockfi is offering 6% on Bitcoin, and 8.6% on USD Coin. FYI, Blockfi does have a minimum amount you can withdrawal, so once it's in, you may have to keep adding into it, to pull all of it out. You can also deposit ethereum and litecoin, but the rates are way less. It would help me out, at no cost to you, if you use my referral link for Blockfi https://blockfi.com/?ref=5b7fa1b5 I'm on the computer a lot so I average about 30-40 BAT/month so like $5-7/month at current BAT prices. I do have a method I used to make money via coupons, but it violates the rules to tell you how. Message me and I'll tell you.
Dash In 2018: Disappointments, Boondoggles, Scandals, Disasters, & Catastrophes
[The original post was censored in the the paidshill Dash pumping sub Dashpay, where actual discussion beyond "2018 kind of sucked for Dash" is not allowed.] Disappointments In 2018, Dash failed to be listed on Coinbase while ETC and many other coins were, due to Dash's notorious Instamine, centralized development, and murky Howey Test/SEC Action status. In 2018, Dash failed be included in the OpenBazaar project, while Monero and several other alts were added. In 2018, efforts to hype Dash's supposedly impressive 2mb block-based tx/sec rate were crushed and humiliated when DCG's creaky old client hit a crippling software limitation around the same time as BCH and BSV were chewing through 32 and 64 megabyte blocks. In 2018, Dash's former anti-segwit hero Craig Wright learned new facts about law and concluded Dash is an illegal security, saying so loudly in tweets backed by citations. In 2018, Wirex and other debit card providers supported Bitcoin and many alts, but not Dash, despite a year of Shrem 2.0 shill talk about integrations 'soon'. In 2018, Dash Core used Uphold for the "Acquire Dash" part of their Kript mobile plan, but Uphold doesn't work in Venezuela , so that pillar of their strategy was broken. Boondoggles In 2018, the FanDuel fiasco wasted a fortune in cash and goodwill, leaving Dash's target market of online gambling to Calvin Ayre's BSV and Roger Ver's BCH blockchains. In 2018, the DACH Embassy fiasco wasted a fortune in cash and goodwill, as nobody ever really cared about Macrocuck/Simon/Basilpop/Ezra/Fabio running around desperately trying to look busy enough to justify their ridiculous burn rate and poor results. In 2018, the CoPay fiasco wasted a fortune in cash and goodwill as users and devs suffered an ambush from DCG, leaving the formerly hyped "backbone of Evolution" project instantly retired to abandonware status. In 2018, the Alt36 train-wreck-in-progress slowly lurched towards its imminent conclusion of causing more toxic FUD and wasting a fortune in cash and goodwill with zero deliverables to show for it. Scandals In 2018, fake "Venezuela adoption" news resulted in massive public humiliation as Twitter, cc, and Russia Today (ironically, the home of Dash paidshill Max Keiser) debunked hype that only amounted to useless stickers on greasy cash registers. In 2018, Evan and Amanda were missing in action, despite Evan's previous promises to develop hardware and support the ecosystem with his vast, intentionally insta-mined fortune. In 2018, Dash paid to hold a Bitcoin networking event at a Miami strip club, offending so many people (it was a 2nd offence for Dash with strippers at TNABC) the scandal was reported worldwide by Bloomberg, Fortue, Business Insider, etc. In 2018, knowledge of Dash's instamine became widespread throughout the entire crypto universe and the intentional nature of Evan's faked "bug" excuse became a subject of investigation. In 2018, Dash cargo cultists reduced themselves to shilling the dwindling number of cherry-picked metrics by which Dash was not failing utterly, such as the absurd "FairCoinValue" and fallacious/irrelevant "ATH Masternode Count" hype. In 2018, the KuvaCash fiasco turned toxic (wasting a fortune in cash and goodwill) resulting in a kDAO splinter group of venture capitalist MNOs and creating massive Howey Test implications. Disasters In 2018, a KuvaNation vs. DACH Force News civil war inflicted mass casualties, leaving a permanent split of the "DGBB" community into non-cooperative Team Tao and Team Joel factions fighting over a shrinking Treasury budget like starving rats. In 2018, malicious MNOs trolled Dash at the protocol level and on DashCentral, causing chaos at the very end of voting cycles, thus showing the entire world Dash is not resistant to Sybil attack after all. In 2018, Dash Clown Group Inc failed to live up to its own self-imposed "Agile Development" goals so many times they published one sketchy, final "DRAFT" roadmap, and then quietly abandoned entirely the idea of actually trying to meet deadlines (despite the dash.org page still advertising a Q4 2018 Alpha release). Catastrophes In 2018, a single mining pool controlled enough hashpower to prevent a timely upgrade, demonstrating that Dash's PoW is not sufficiently decentralized (due to Bitmain's monopoly on Dash ASICs). In 2018, www.crypto51.app showed the world Dash is >90% NiceHash-able and thus may be 51% attacked easily and cheaply (<1 BTC per hour), causing Poloniex and other exchanges to require 50 confirmations (rather than using InsantSend). In 2018, the failures of Dash's X11-based PoW security model and resulting threat of attacks caused Dash to abandon Nakamoto Consensus for a wonky, untested, homespun version of checkpoints (conceding defeat and offering an unconditional "pre-consensus" surrender before an attack even happened). In 2018, Evolution was not here by NYE (not even an alpha version of a testnet). In 2018, no amount of brave ThisIsFine talk about buying dips could change the fact that Dash Core Group Inc had to radically downsize due to their customary $935k/month funding being completely unsupportable. Analysis Never mind the price drop, even though Dash suffered worse than most of its Top 20 peers and fell in rank from #3 all the way down to #16. Let's ignore the fact Dash is marketed to investors with the 'Masternode' feature advertised as supposedly stabilizing the price. Let's also ignore the fact that in 2018 Dash's supposed Sybil-resistance was shown to be inadequate, as blockchain analysis revealed dozens of Masternodes trolling at the protocol level by voting no on all but the infamous DEMOTE RYAN TAYLOR proposal. Evolution was, after years of delays, complete from-scratch reboots, and blown goals, given one final self-imposed deadline to meet. Dash's Queen, Amanda of the Used Car Lot, declared she was going have to rethink her position regarding Duff's Instamined Masternode tokens if that deadline wasn't met. That deadline was midnight Dec 31, 2018. Now it's the first morning of 2019 and Evolution is nowhere to be seen. Even worse, Dash Clown Inc is once again making negative progress towards their goals of shipping a test-net version of v13 worth of the term "Release Candidate." Dash Clown Inc burned through ten (10) un-releasable (because broken) so-called Release Candidates. Finally the clueless clowns (running around like headless chickens since Andy Freer was fired or rage-quit) gave up on the entire v13 RC branch and went back to tinkering with v12. No updates to the crucial LLMQ repo have been made since November, when the price drop crushed DCG's budget and Andy suddenly left Evolution to die on the operating table. Dash in 2018 through the eyes of Reddit's most popular crypto sub January 2018
Conclusion The Top Three Dash-related posts at cryptocurrency are a microcosm of Dash's start-to-finish miserable, horrible, terrible year of self-inflicted blunders, money pits, and epoch-ending cataclysms cumulating in the resolution of the Dash experiment and disproving Evan's "Dash is Digital Cash" hypothesis. Note: The repost is shared here. The original has been censored from Dashpay. https://np.reddit.com/DashUncensored/comments/abvewf/dash_in_2018_disappointments_boondoggles_scandals/ [Dash is such a terrible scam that it needs its own uncensored sub to discuss happenings without incurring the wrath of the MNO and the Dash ponzi leadership/Evan/Amanda. I honestly believe crypto must weed out these ponzi like operations before we can move forward as a collective group]
Well, I wanted to. Would have bought at $3500. Would have bought at $3000. But it takes so bloody long to get money on to an exchange (not O/S either), the dip was over before my money had even moved! Which is kinda good, in that it reminds me why Bitcoin is great and legacy banking is rubbish.
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